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Closing Bell

Closing Bell Overtime: Earnings Bonanza As Stocks Rebound; Rivian & Reddit CEOs 8/6/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 6 August 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Stocks rebounded slightly from Monday’s slide. Earnings from Amgen, AirBnb, Wynn, Super Micro, Instacart and Lumen. Robins CEO RJ Scaringe talks the latest quarter, production plans and more. Plus, Reddit CEO Steve Huffman in an exclusive interview on the company’s data licensing plans and growing revenue.

Transcript

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0:00.0

That bell marks the end of regulation, Ober Capital, ringing the closing bell at the New York Stock Exchange,

0:08.0

Third Coast Bank shares doing the honors at the NASDAQ, and stocks rebounding after Monday's market meltdown but gains

0:13.8

fading in the last hour until minutes in 10 minutes still every sector did close

0:19.0

higher led by real estate on the S&P that's a scorecard on Wall Street, but

0:23.0

winter stay late. Welcome to Closing Bell overtime. I'm John Ford back with

0:25.9

Morgan Brennan. It's good to have you back. Well we have a major hour of

0:28.8

earnings on the way including results from Super Micro, Reddit,

0:32.4

AirB&B, Instacart, Rivian, and many more.

0:34.8

Plus, we'll talk to the CEO of Reddit and the CEO of Rivian before their calls with

0:39.5

Wall Street analysts.

0:40.7

But as we wait for those earnings earnings let's bring in vital knowledge

0:43.4

founder Adam Chris of Foley talk about these markets Adam that's not exactly

0:49.1

great if you're bullish to see the S&P close up just a percent after the stronger rally during

0:57.1

the day, what do you make of it?

0:58.1

Yeah, so I think what happened over the last several days is certainly inflicted a lot of psychological damage and so finding a base off of what happened

1:07.0

You know it's going to be a process it's going to take some time you know markets are going to want to see stability over the course of several days going forward not just a single sharp

1:15.0

p-shaped rally you know anything it's probably a little healthier if we have a series of more modest gains rather than a giant p-shaped move on a single session.

1:24.6

So it's more of a process than I think it's a street session and we're going to have to kind of

1:29.6

sift through some more earnings, get some more economic data, hear some from some more

1:33.0

from some more beneficial.

1:34.0

Just get a better sense of where the macro landscape lies right now.

1:38.0

Which matter is more right now?

...

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